- Turk – Gold Will Shock Investors By Soaring This Summer!
With continued uncertainty in major markets, as well as gold and silver, today King World News interviewed James Turk out of Europe. Turk discussed the aftermath of the Greek elections and what investors should expect going forward. Here is what Turk had to say about what is taking place: “The Greek election has come and gone, Eric, but the Greek vote has changed nothing. Europe is still in a severe crisis, and every attempt to solve this crisis has failed because no serious solutions have been proposed. All the central planners did was buy time, and that precious time has been squandered with their various schemes.”
“There are two crises actually, Eric, but they are interlinked. Worryingly, these sovereign debt and bank insolvency crises are deepening. Today we have Spanish 10-year yield topping 7%. That is the level that brought Greece, Ireland and Portugal to their knees. These countries asked for bailouts because private lenders no longer wanted to take the risk of lending money to them.
“For a few weeks now I have been saying that we are headed into a fear event. There has been no change in my thinking. That means that I am still looking for gold to shock market participants by soaring this summer. This will also pull the silver price higher as well. Similarly, because there is no shortage of liquidity, as there was when Lehman collapsed, I expect this fear event will mean the price of mining shares is headed much higher also.”